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Press Release Published: Jul 14, 2022

Comer: Biden’s Brother Peddled Political Connections in Middle East to Secure Loan from a Private Business

WASHINGTON—House Committee on Oversight and Reform Ranking Member James Comer today wrote to U.S. Department of Treasury Secretary Janet Yellen raising concerns about James Biden promising to use his political connections in the Middle East to secure funding for Americore Holdings, LLC. Ranking Member Comer is requesting the Treasury Department prioritize the production of the Biden family’s suspicious activity reports that are related to the Middle East, including Saudi Arabia and Qatar, to determine if any foreign business deals threaten the security of the United States.

“We are concerned the U.S. Treasury Department continues to stonewall our investigation into the Biden family’s suspicious foreign business transactions flagged by banks. Evidence continues to mount showing the Biden family peddled access to the highest levels of government to enrich themselves. According to new information obtained by Committee Republicans and confirmed by court filings, during 2017, James Biden—the President’s brother—promised funding from ‘the Middle East’ for a business deal ‘based on his political connections’ because his last name ‘Biden’ could ‘open doors.’ This is troubling and may implicate national security.  In light of this new information, we again reiterate our previous requests for suspicious activity reports (SARs) connected to the Biden family,” wrote Ranking Member Comer.

A recent filing in the United States Bankruptcy Court for the Eastern District of Kentucky alleges James Biden fraudulently induced Americore Holdings, LLC to provide loans to him that were never repaid. According to the lawsuit, James Biden promised to use his political connections to benefit Americore and in exchange Americore lent him over $600,000. James Biden never delivered on his promise to secure funding from countries such as Saudi Arabia and Qatar, which forced the company into bankruptcy. Ranking Member Comer is investigating the Biden family and associates’ suspicious foreign business transactions flagged by U.S. banks to determine if they threaten national security, but the U.S. Treasury Department is refusing to provide the requested information.

“It is crucial for the American people to learn the source of James Biden’s Middle East funding, to understand whether President Biden ever used ‘political connections’ to help James Biden or other family members enrich themselves at the expense of national security, and whether James Biden or other family members have ever improperly solicited funding in the Middle East, continued Ranking Member Comer. “The Wall Street Journal reported that ‘Treasury has made SARs available for every request we’ve received, regardless of party, and will continue to do so.’ This is not true. You have not provided a single SAR requested by Committee Republicans. In order to ensure that Committee Republicans are able to review Biden family SARs in a timely manner, I request that Treasury prioritize its production of financial transactions that are related to the Middle East, including Saudi Arabia and Qatar as soon as possible but no later than July 28, 2022.”

The letter to Secretary Yellen can be found here.